Colmar, Inc. incurred the following costs for the month of J…
Colmar, Inc. incurred the following costs for the month of June in manufacturing gardening tools. Wood handles and metal parts used $ 156,000 Advertising $ 15,000 Salespersons’ salaries and commissions 22,000 Insurance on factory 13,000 Labor costs for tool assemblers 85,000 Factory manager salary 9,000 Factory equipment depreciation 27,000 Factory building rent 39,000 Office supplies 14,000 Factory utilities 11,000 Total production costs are ____________________
Read DetailsCrimson City appropriates the acquisition of $500,000 of pol…
Crimson City appropriates the acquisition of $500,000 of police cars. Most of them are delivered prior to the end of the year. But, $100,000 are on backorder and would not be delivered until the following year. Assume that Crimson City considers the appropriation to have lapsed. At the beginning of year 2, what journal entry would be made?
Read Details